For a high-level summary of valuation issues for companies with operations in or considering transactions in Japan, check out this overview prepared by Tanizawa Sōgō Appraisal Co. Ltd., a member firm of the Valuation Research Group. Much of this is similar to other countries. For example, for business combinations or asset acquisitions, acquired tangible assets (real and personal property) and intangible assets must be restated at fair value in a purchase price allocation (PPA) report.